Word: trusts
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Dates: during 1970-1979
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Whatever happens next, the U.S. economy will be hurt by what has already happened. The Morgan Guaranty Trust Co. estimates that oil prices in the U.S. will increase at least 15% by year's end. That would lead at a minimum to a halfpoint jump in consumer prices because oil is used not only for fuel but also as a raw material in chemicals, synthetic fibers and many other products. Rising fuel charges also will prod workers to demand more pay, which businessmen will pass on in higher prices. And as more dollars flow abroad, the greenback...
...proposals in a political vacuum. In arguing that spectrum fees will provide a "safe" flow of funds, the commission overlooks glaring precedent: At one time, revenues from gasoline taxes were to be dedicated exclusively to highway construction. Such illusions were shattered when environmental groups successfully lobbied to have Highway Trust Funds diverted for mass transportation...
...PUBLIC TRUST is no doubt valuable for reintroducing the key issues facing public broadcasting today. But its solutions--obscured in page after page of tortured prose--tend to skirt the reality that advocating funding panaceas on a large scale will not change the political climate. To justify its proposals, the commission offers familiar attacks against commercial television, arguments which, though valid, do little towards establishing a workable proposal. No one should argue that public television in the United States should be put out of its misery. A practical solution might suggest concentrating on local efforts, reducing reliance on federal funds...
Inconsistencies and generalizations further reduce A Public Trust's credibility. The commission insists that it is important to speak in terms of public broadcasting--that is, both television and radio. But radio is quickly dismissed, despite the commission's own findings that the noncommercial sector is "disproportionately needy." Only one of the commission's original 20 members comes directly from the radio industry. While advocating a growth of radio stations in the country, the commission fails to provide the needed funds. Edward Elson and Frank Mankiewicz, chairman and president of National Public Radio, respectively, have denounced Carnegie...
...local processes, the system as a whole is incapable of defining its mission to serve the public," the commission notes. Is this the same group that says that in order to attract the best minds, it cannot require public financial disclosure for those nominated to serve on the Trust's board...